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20110701
20110731
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said they would start again on monday. >> the good news is we agree on some of the big things. >> president obama thought he and john boehner had an agreement to target $4 trillion in cuts. saturday evening, the speaker abandon the plan saying it was too ambitious and could not pass. >> a big package would require big tax increases in the middle of an economic situation that is extraordinarily difficult. we think it is a terrible idea. >> democrats want to close some tax loopholes to offset the cuts. >> what is really appalling is to seek our republican colleagues providing a form of extortion. we will put all of these jobs at risk is what they're saying. >> the credit rating may be at risk if congress fails to act soon. >> if that happens, you will see catastrophic damage across the american and global economy. >> the political leaders remain far apart. wbal-tv 11 news. the nation reaches its credit limit on august 2. secretary geithner says the deal must be done this week. there is a link between this showdown over the debt and the health of the economy. it is believed failu
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